XRP skyrockets by 21% in 24 hours as Coinbase activation pushes crypto over the moon

In the midst of Bitcoin nearing and then shattering ever major resistance level in the past few weeks, the third largest cryptocurrency has been sidelined. Ripple’s XRP has reaffirmed its third spot on the coin ladder, reawakened the bulls and is on a mammoth 6.5 percent hourly rise, unforeseen in the market.

On the back of the announcement from major American cryptocurrency exchange Coinbase, stating that New Yorkers can finally trade the cryptocurrency, XRP rose by 25 percent and this rise has since persisted. Coinbase’s announcement coincides with the biggest event currently ongoing in New York City, which, historically has led to price inclines, Consensus 2019.

Coinbase and their relationship with XRP have not been smooth, to say the least. Back when the exchange announced the inclusion of the cryptocurrency on its roster, it was marred by allegations of insider trading. Employees at Coinbase were speculated to purchase the altcoin on the cheap prior to the listing, which was denied by CEO Brian Armstrong.

Source: Trading View

The announcement was formally made earlier this week, with XRP beginning to rise at 0030 on May 14. The coin ascended from $0.325 to $0.393 in a matter of few hours, a 20.93 percent rise. After breaking the $0.4 ceiling at 1430 on the same day, minor correction bears dragged down the coin’s price to $0.385, a drop of 3.75 percent.

Following this roller-coaster movement, the coin’s recent spike began at 2300 UTC on 14 May, as the coin soared from $0.393 by 10.94 percent as it broke the aforementioned ceiling once again to reach $0.436, in a matter of three hours.

XRP has added over $4.6 billion to its market cap in the past 48-hours. At press time, the third largest cryptocurrency is valued at a whopping $18.34 billion, its highest point since November 2018.

BW.com takes the top spot in terms of XRP global volume account for 11.1 percent of the total volume in the trading pair XRP/USDT. Other notable exchanges are UpBit, ZBG, Bit-Z, and Digifinex. Notably, the only exchange that accounts for “real” XRP volume, according to the Bitwise report is Binance on the 9th spot with just 1.9 percent of trade volume.

I am a believer of the HODL philosophy because we are still in the nascent stage of blockchain technology. Although we are in a bear market now, my outlook on the adoption and growth of blockchain solutions remains unchanged. Blockchain transactions has been growing exponentially and demand for cryptocurrency like Bitcoin [BTC], Ethereum [ETH], Ripple [XRP], Litecoin [LTC] and other Altcoins will only continue to grow exponentially in the next five to ten years.

Related Articles

On January 9, CCN reported that 13 financial institutions have started to utilize the Ripple blockchain through RippleNet, bringing the total number of banks in the Ripple ecosystem to 200. Fintech applications and banks in the likes of Euro Exim Bank, SendFriend, and JNFX have integrated RippleNet for liquidity and instant settlement of payments that

The post Ripple CEO to Critics After Obtaining 200 Clients: Banks Will Use XRP appeared first on CCN

A ‘Black Swan’ art piece by Cryptograffiti has auctioned to the lowest bidder for a milli-satoshi or just $0.000000037 thanks to the Bitcoin Lightning Network, making the winning likely the world’s cheapest auction. The ‘Black Swan’ A Reddit user going by the name Cryptograffiti shared his story of creating and auctioning a tiny piece of art called “Black Swan.” Read more…

FedEx CIO, Rob Carter, believes that mandated blockchain standards for international shipping will lead to widespread adoption within the industry. This would also enable authorities to better track goods’ provenance, and help combat the trafficking of counterfeit or illegal goods. Digitizing The Paper Trail Carter was speaking during a panel discussion at the Blockchain Global Revolution Read more…